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that substantial deficit reduction would be associated with a substantial reduction in interest rates that would push the economy forward at the more rapid pace. indeed, in an important part of the economic growth of the 1990's can properly be attributed to the unlocking of economic energy that was achieved by the 1993 budget measures, that led to a reduction in interest rate, increase in investment, accelerating growth, lower capital clause, further improvement in the deficit and so forth. that approach, a fiscal consolidationization that lead to substantial growth was a plausible and compelling vision for the country in 1993 1993, it has been a plausible and come compelling vision for other countries and times in places. you cannot fall very far out of the basic. with interest rates at 1.7% for ten years. with a real interest at the level where if you want to put your money or store your money with the government for as much as twentd years, you have to pay them for the privilege of having them hold your money. if they are going give you back inflation. in such an environment, the reduction in
would call these gimmicks, the full ten year cost of this bill has of $460 billion deficit. the second has a one half trillion dollar deficit. probably the most cynical gimmick in this bill is something that we all probably agree on. we don't think we should cut doctors' 21% next year. we stop those cuts from occurring every year for the last seven years. we all call this the toxics. well, according to your numbers it cost her her $71 billion. it was in the first iteration of all these bills. because it was a big price tag and made the score look bad, may look like a deficit, that provision was taken out and has been going on in stand-alone legislation. ignoring these costs does not remove them from the backs of taxpayers. hiding spending does not reduce spending. and so when you take a look of this is just as not add up. let's finish with the cost curve. we bending the cost curve down or up? well, if you look at your own chief actuary of medicare revenue up. he is time we are going up $222 billion, adding more to the unsustainable fiscal situation we have. and so when you take a look
for the economy. another important element is a private set her deficit. wow, another important reform has been to put into the constitution, a financial stability law, that means that the government is going to be more able to meet their objectives and to put a degree on the expand says and the deficit of the regional suspense, which is part of the issue because the expenditures from the central government, another part of the government in which you have tools in order to make them comply with your objectives. at the government has proper tools. and in the process of the fiscal situation as we see in this chart, we have a totally out-of-control deficits in the year 2009 with a deficit exceeding 11% of the gdp and now we are to reducing the step thursday of the very important issue and what the markets wonder if the capacity of the government to get to the 6.3%. there is a degree in the market and the capacity, but the government is confident that she can get this figure and i think it would be a very important message for the market. if it's able to comply with the objective of direction and
? >> i will -- the candidates how they will reconcile reducing the deficit, cut spending and still -- [inaudible] >> what are you doing to prevent trafficking and to stop it altogether? >> all day like event tomorrow on c-span2 to tell you about. the center for strategic and international studies looks at political transitions in north africa. this starts at 8:30 a.m. eastern. >> we are live at centre college in danville kentucky for the 2012 vice presidential debate between vice presidential bike and congressman paul ryan. the moderator, martha raddatz is almost ready to begin after giving the audience instructions to remain quiet during the debate. we are waiting for her to introduce the candidates announced the opening question. [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] [inaudible conversations] .. [inaudible conversations] [background sounds] [background sounds] [background sounds] [inaudible conversations] [background sounds] [inaudible conversations] [background sounds] [inaudible conversa
not reach a deal cutting the deficit. jpmorgan is being sued at the new york attorney general over allegations that subsidiary bear stearns deceived investors into buying mortgage-backed securities. this is an hour. [inaudible conversations] >> well, good afternoon. i am richard haass and i want to welcome all of you to the council on foreign relations into today's ceo speaker series meeting. this is part of the council on foreign relations corporate programs, which is supposed to increase connections and links between the business community in the foreign policy community, which to some extent are one and the same. i want to thank -- rather welcome not necessarily those of you do, but those around the world participating in this meeting or modern technology. speaking of modern technology, if people take a second to turn off their cell phones and the like, that would be most welcome. this meeting is on the record. as we say, anything can and will i'm sure be against you. in this danish, probably some things you haven't said will be used against you. the phrase for someone it's no
building but at least he had the right message. your sign said reduce deficits and you thoughted no blood for oil. and you were chained to a rural health organization. what's your message? >> well, -- >> so wrong building, unclear message, but at least jody reached the people. >> how long before someone noticed you? >> 18 hours. [laughter] >> why do you think people ignored you? >> i think people don't like to think about the troubles in the international spectrum right now. >> not because you were below sidewalk level? jody brought me to the place where, for some reason, no one saw him. you were chained where? >> just to this door handle here. >> okay. and was this sign here when you -- >> actually it was. >> did you read this sign? >> after i locked to the door handle. >> yes, after he locked to the door handle. but every good protester has a contingency plan. >> when you found out you were in the wrong place you just unlocked yourself and moved, right? >> no. because i didn't have the key. i, went to the demonstration -- >> forgot it? left it somewhere? >> i left it in the car way was
is the lineup in the case as far as the deficits, who will hear it and decide? >> only eight justices will decide because justice elena kagan is recused having worked. so eight justices. it's a pretty good bet that for more conservative justices will vote to if not strike down entirely, limit the use of race. the others will go the other way and as usable, justice anthony kennedy will hold the deciding vote. he has on the one hand said some positive things about using race and about the importance of diversity. on the other hand, he's never in his career and voted to uphold an affirmative action plan so she is a real wild card. >> is it possible this could be a 4-4 decision? >> it's not likely that it's possible and if it were, that would have the effect without opinion and without reasoning from the supreme court automatically affirming the decision below which had up held the texas program manning the split would equal that affirmative action stays the way we know it today. >> is the university of texas the only school that uses this type of system? >> that's right this combination
Search Results 0 to 6 of about 7

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